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U.S. stock index futures on Tuesday pointed to a lower open, as market participants returned from the long Labor Day weekend. The focus this week is on Friday’s August nonfarm payrolls report. Here are some stocks to watch on Tuesday:
- U.S.-listed shares of Novo Nordisk (NVO) fell 0.6% in pre-market trading. The slight decline came a day after the Danish drugmaker warned that intermittent supply shortages for all strengths of its blockbuster diabetes drug Ozempic were expected into the fourth quarter of this year. “Increased demand for the injectable glucagon-like peptide-1 receptor agonist (GLP-1 RA), Ozempic, coupled with capacity constraints at some of our manufacturing sites have led to shortages, including out-of-stock situations,” Novo Nordisk (NVO) said in a note published by the European Medicines Agency.
- U.S. Steel (X) stock slipped about 4% ahead of the opening bell. The retreat came a day after U.S. Vice President Kamala Harris opposed the company’s planned takeover by Japan’s Nippon Steel (OTCPK:NISTF) (OTCPK:NPSCY). “U.S. Steel should remain American-owned and American-operated, and I will always have the backs of America’s steelworkers,” Harris said at a joint campaign appearance with President Joe Biden in the state of Pa. Harris’ comments echo that of Biden and of her Republican presidential rival Donald Trump. The deal has been an object of the White House’s ire for months.
- Shares of Zscaler (ZS) will be in focus, with the cloud security firm scheduled to report FQ4 2024 results after the closing bell. Wall Street expects the San Jose, Calif.-based firm to earn 69 cents per share on revenue of $567.61M. Zscaler (ZS) provides information technology security services such as its Zero Trust Exchange platform, which protects thousands of customers from cyberattacks. According to its website, it secures more than 400B transactions every day. Barclays last week said it saw potential upside to Zscaler’s (ZS) quarterly billings.
- PagerDuty (PD) stock will also be one to keep an eye on, ahead of the cloud computing company’s FQ2 2025 numbers after market close. Wall Street expects the San Francisco, Calif.-based firm to earn 17 cents per share on revenue of $116.48M. PagerDuty (PD) primarily provides incident management and response services, such as its PagerDuty Operations Cloud platform that detects and diagnoses disruptive events in IT departments. The company in May delivered a seventh straight quarter of non-GAAP profitability.
